Does ReneSola Ltd (SOL) Have A Cheap Price Or Is It Risky?

The stock of ReneSola Ltd (NYSE:SOL) increased by remained unchanged at $7.85, up 0.38 percent. The last five days have seen an average of 2,013,920 shares of common stock traded. 10 times new highs were reached in the current year, with a fall of -$3.58. The average number of shares traded over the last 20 days was 1,354,710, while the average volume over the last 50 days totaled 1,213,026.

SOL stock appreciated 12.14% since last month. On 10/06/21, the company’s shares reached a one-month low of $5.99. The stock touched a high of $35.77 on 01/22/21, after rallying from a low of $2.97 in 52 weeks. The price of SOL stock has declined by -31.32% or -$3.58 this year, reaching a new high 10 times. Still, the stock price is down -78.06% from the 52-week high.

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Insider Transactions

There have been 35 days since ReneSola Ltd (SOL) last reported insider trading activity on Sep 20. On Sep 20, CFO SHAH CAPITAL MANAGEMENT acquired 6,000 shares at $6.75 each. This transaction resulted in the insider spending $40,500. On Sep 16, SHAH CAPITAL MANAGEMENT added 5,000 shares at a price of US$6.85. After the transaction, the insider now owns 11,607,298 shares. CFO SHAH CAPITAL MANAGEMENT had earlier bought 5,000 shares on Sep 08 for $6.80 a share. The transaction was completed for $34,000.

Valuation Metrics

ReneSola Ltd (SOL) has a trailing price-to-earnings (P/E) ratio of 41.10. This level actually compares favorably with the industry at large, as the PE for the Solar industry stands at about 60.26. Further, its PE also compares unfavorably with the Technology sector’s trailing 12 months PE ratio, which comes in at 38.99 right now. The PE ratio of ReneSola Ltd has varied between 95.20 and 0.4563 in the last five years. Beta for the stock is 2.25. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 8.08, the price-to-book (PB) ratio of 1.30.

For the three months ended June 29, ReneSola Ltd’s quick ratio was 9.80, while its current ratio was 9.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.09, and the total debt to equity ratio is 0.12. As far as profitability goes, gross margin for the trailing twelve months is 38.50% percent. ReneSola Ltd’s EBITDA margin for the year ended June 29 was 13.51%, whereas its operating margin stood at 21.80% for the same period. Based on annual data, it had gross profit of $16.69 million and revenue of $73.5 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SOL’s return on assets (ROA) during the last 12 months has been 2.70%. There was a 2.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 4.40%. ROE has averaged -0.25 in the past year for the broader industry.

Earnings Surprise

According to ReneSola Ltd’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $73.5 million, while revenues fell by -62.07% to $0.0. It was predicted that ReneSola Ltd’s quarterly earnings would be $0.1, but it ended up being $0.05. EBITDA was $7.29 million for the quarter. At the end of ReneSola Ltd’s most recent quarter ended June 29, its liabilities totaled 92.23 million, while its total debt was $70.08 million.

Technical Picture

Here’s a quick look at ReneSola Ltd’s (SOL) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 69.72%, suggesting the stock is Neutral, with a 47.23% historical volatility rate.

The stochastic %K and %D were 83.09% and 89.46% respectively, while the average true range (ATR) was 0.42. Based on the 14-day stochastic reading of 76.52%, the RSI (14) reading is 63.72%. On the 9-day MACD Oscillator, the stock is at 0.42, and the 14-day reading is at 0.82.

Analyst Ratings

In its analyst report released on March 09, 2021, Raymond James began covering ReneSola Ltd (NYSE: SOL). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned ReneSola Ltd (SOL) an Overweight rating. SOL is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 2 others recommend it as a buy.

What is SOL’s price target for the next 12 months?

The current consensus forecast for the stock is between $7.70 and $15.00, with a median target price of $12.25. In analyzing these forecasts, the average price target given by analysts for ReneSola Ltd (SOL) is $11.80.


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